Bryn's AS Economics Blog

Unit 2: GDP falls in the last quarter of 2001

2012-01-25T12:26:00.000-08:00

Key info from Sky, including a video explaining what GDP is half way down the page in case you've forgotten!

http://news.sky.com/home/business/article/16156088 Sky video
http://www.bbc.co.uk/news/business-16715080 BBC article
http://www.channel4.com/news/recession-fears-as-economy-shrinks Ch4 article
http://www.channel4.com/news/why-is-britains-economy-shrinking Ch4 article

a) What is the cause of the fall in UK GDP?
b) What implications will this fall have for the UK economy?

Unit 2 Japan records its first trade deficit in 30 years

2012-01-25T12:20:00.000-08:00

...reports

http://news.sky.com/home/business/article/16156286 Sky
http://www.bbc.co.uk/news/business-16712816 BBC

a) Comment on whether this deficit represents a problem for the Japanese economy

Unit 1: how good is legislation at reducing negative externalities?

2012-01-23T08:00:00.000-08:00

You decide

http://www.bbc.co.uk/news/uk-england-birmingham-16682596

a) What is the negative externality in the clip?
b) Why is it a negative externality?c0 Use a diagram to explain how the market fails with this externality
d) Using information from the clip, discuss the extent to which legislation is effective in reducing the negative externality

Unit : Supply side policies: The importance of apprenticeships

2012-01-20T04:02:00.000-08:00

...according to Nick Clegg on a visit to Cambridge (Thanks to CEN for the video)

http://www.cambridge-news.co.uk/Home/Deputy-Prime-Minister-gets-a-taste-for-bricklaying-19012012.htm

Unit 2: What is expansionary monetary polkicy, and will it boost growth?

2012-01-19T12:17:00.000-08:00

A great, evaluative summary from economicshelp

http://www.economicshelp.org/blog/4886/monetary-policy/expansionary-monetary-policy/

Unit 1: Should solar energy be subsidised?

2012-01-19T12:12:00.000-08:00

Lots to think about in this presentation from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-3-micro-the-economics-of-solar-subsidies

a) Given the information, discuss whether subsidising solar energy is a good use og government finance

Unit 1: Information failure with processed meats?

2012-01-19T12:01:00.000-08:00

Thanks to tutor2u for these links

http://www.bbc.co.uk/news/health-16526695 BBC article
http://www.youtube.com/watch?v=jDKHlh_egRE&feature=player_embedded Al Jazeera video

a) To what extent do you believe there is information failure in the processed meat market?
b) What actions could the government take to reduce this market failure?
c) To what extent do you believe such measures would lead to a reduction in the market failure?

Unit 2: What does the inflation figure mean?

2012-01-19T11:57:00.000-08:00

Well, it hides a large variety of different price movements as shown by this BBC article

http://www.bbc.co.uk/news/business-16535721

Unit 2: Interest rate data

2012-01-18T10:18:00.000-08:00

All the graphs you could want from economicshelp

http://feeds.feedburner.com/EconomicsBlog?format=xml

Unit 2: Unemployment to a 17 year high

2012-01-18T10:13:00.000-08:00

....reports

http://news.sky.com/home/uk-news/article/16151331 Sky video
http://blogs.channel4.com/faisal-islam-on-economics/britain-will-have-to-buck-history-to-stop-unemployment-spiking-above-10-per-cent/15950 Ch4 video
http://www.bbc.co.uk/news/business-16608394 BBC article and graph

But remember the national picture will be an average; things look better in Cambridge

http://www.cambridge-news.co.uk/Cambridge/Unemployment-falls-in-Cambridge-bucking-national-trend-19012012.htm CEN

Unit 2: Inequality data for US and UK

2012-01-17T12:25:00.000-08:00

....from the BBC

http://www.bbc.co.uk/news/business-16545898

Unit 1/2: Productivity/Specialisation videos

2012-01-17T12:16:00.000-08:00

Some great videos from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-videos-on-productivity?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:08:46:56Z

Unit 2: What influences the level of consumption?

2012-01-12T12:37:00.000-08:00

Watch this BBC vox pop

http://www.bbc.co.uk/news/business-16525438

a) So what influences Consumtion spending?

Unit 2: Crossrail; an example og Government spending

2012-01-12T12:22:00.000-08:00

Fantastic clip from the BBC

http://www.bbc.co.uk/news/uk-16289051

Unit 1: Exercise on information failure/smoking

2012-01-12T07:04:00.000-08:00

Thanks to Richard Young for this

http://bizeconict.co.uk/?p=356 questions and data
http://www.medicalnewstoday.com/articles/239800.php report

Unit 1: Negative externalities of closing a landfill site

2012-01-11T12:44:00.000-08:00

Great clip from the BBC

http://www.bbc.co.uk/news/world-latin-america-16496212

a) Explain the negative externalities likely to result from this closure
b) Discuss alternative strategies open to the Mexican gGovernment to reduce the market failure

Unit 2: GDP v GDP per capita

2012-01-10T12:35:00.000-08:00

As brazil overtakes the UK to rank as the 6th largest economy in the world, it's not the same story when you look at GDP per capita

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-brazil-overtakes-uk-in-economic-size?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:09:36:59Z

a) Explain why not

Unit 2: HS2: An example of government expenditure with a multiplier effect?

2012-01-10T12:07:00.000-08:00

The biggest single construction project for years according to the BBC

http://www.bbc.co.uk/news/uk-16482412 video

....with a multiplier effect, says this article

http://www.bbc.co.uk/news/business-16467903

a) What is the size of the multiplier efect suggested by the article?
b) Explain how this multilier effect will come about

Unit 2: What determines the level of Investment?

2012-01-10T10:01:00.001-08:00

This tutor2u article more than likely goes too far for OCR AS, but I like it!

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-factors-driving-business-investment

Unit 2: The role of consumer confidence on Consumption

2012-01-10T09:59:00.001-08:00

Thanks to tutor2u for this clear explanation

http://www.tutor2u.net/blog/index.php/economics/comments/hopes-and-fears-2012?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:32:19Z

Unit 1: Natural disasters and their effect on economies

2012-01-10T09:42:00.001-08:00

Thanks to tuto2u for pointing out this resource

http://www.youtube.com/watch?v=Skz0Rgchm6g&feature=player_embedded#!

a) Using a PPC diagram and words, explain the effect on the Japanese economy of the earthquake/tsunami/nuclear plant shutdown

Unit 2: Who do we trade with?

2012-01-10T09:35:00.001-08:00

Great data from the Guardian

http://www.guardian.co.uk/news/datablog/2010/feb/24/uk-trade-exports-imports

Unit 2: What's the limitation of GDP per capita?

2012-01-10T09:33:00.000-08:00

Planet money explains all

http://www.npr.org/blogs/money/2012/01/10/144914762/why-gdp-per-capita-can-start-a-bar-fight?ft=1&f=93559255

Unit 1: High speed rail and externalities

2012-01-10T09:24:00.000-08:00

HS2 has been given the go-ahead, but not everyone is happy

http://news.sky.com/home/politics/article/16145716 Sky

a) What are the positive and negative externalities associated with the project?

Unit 1: Negative externalities from metal theft

2012-01-06T13:32:00.000-08:00

Thanks to tutor2u for this

http://www.youtube.com/watch?feature=player_embedded&v=MDfoX6E4IeU#!

a) What are the negative externalities from metal theft, and why are they negative externalities?

Unit 1: Externalities revision

2012-01-04T01:11:00.000-08:00

A brilliant tutor2u resource, full of theory and video examples. It goes a bit further than the OCR syllabus needs and I have labelled the diagrams differently, b ut if you want a real, in depth analysis, this is great

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-prezi-on-the-economics-of-negative-externalities?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:01:42:13Z

Unit 1: Cuba moves towards the market system

2011-12-29T09:59:00.001-08:00

.....according to the BBC

http://www.bbc.co.uk/news/world-latin-america-16336137

Unit 1: The end of tobacco displays

2011-12-29T09:42:00.000-08:00

....is on its way, says the BBC

http://www.bbc.co.uk/news/uk-16343566 video
http://www.bbc.co.uk/news/uk-16342906 article

A) To what extent do you believe this measure will reduce the market failure in the tobacco market?

Unit 1: The price of peanuts

2011-12-29T09:36:00.000-08:00

I love peanuts and so I've noticed the rising price in pubs and supermarkets. This post from tutor2u explains why

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-supply-shortages-drive-peanut-prices-higher

Unit 1: Examples of negative externalities

2011-12-29T09:33:00.001-08:00

.....from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-video-clips-on-negative-production-externalities

Unit 1: Negative externalities from pop concerts

2011-12-23T12:30:00.000-08:00

A few clear examples in this BBC news story

http://www.bbc.co.uk/news/uk-england-london-16312806

a) What are the negative externalities arising from the Hyde Park concerts listed in the article?
b) Explain why these are negative externalities
c) What form of action is the government suggesting to reduce the market failure?
d) How likely is such a course of action to reduce the market failure and lead to a more socially optimum output?

Unit 2: Macro data

2011-12-19T13:46:00.000-08:00

Economicshelp's outlook for 2012 has some great macro data charts in it

http://www.economicshelp.org/blog/4689/economics/uk-economy-2012-forecasts/

Unit 2: Falling disposable incomes and their effect on consumption

2011-12-19T13:35:00.000-08:00

An interesting post from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/changing-consumer-behaviour-falling-incomes

Unit 1: The price of Christmas trees

2011-12-15T12:42:00.000-08:00

Here's the annual story from the BBC

http://www.bbc.co.uk/news/uk-16142610

a) Using a S&D diagram, explain the increase in tree prices. Hint: Think carefully about how you draw the supply curve!

Unit 2: The costs of youth unemployment

2011-12-15T12:41:00.001-08:00

A fine article from the BBC

http://www.bbc.co.uk/news/business-16156849

Unit 2: Slight fall in UK inflation

2011-12-15T12:35:00.000-08:00

Thanks to anforme for this post

http://www.anforme.co.uk/blog/?p=2450

and the BBC

http://www.bbc.co.uk/news/business-16160960 video
http://www.bbc.co.uk/news/business-16154965 article

Unit 2: Comparing EU unemployment data

2011-12-14T13:44:00.001-08:00

A nice interactive chart from the BBC

http://www.bbc.co.uk/news/business-13359367

Unit 1: Soaring chocolate prices

2011-12-14T13:42:00.000-08:00

Thanks to tutor2u for this

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/demand-and-supply-in-action-chocolate-prices-soar

a) Using the info in the article and using a diagram, explain why chocolate prices are rising fast

Unit 1: A market in disequilibrium: Butter in Norway (believe it not!)

2011-12-14T13:38:00.000-08:00

I love this story from Planet Money

http://www.npr.org/blogs/money/2011/12/13/143632326/a-rich-country-runs-out-of-butter?ft=1&f=93559255

with a follow up from the BBC

http://www.bbc.co.uk/news/world-europe-16170808

a) Can you use a S&D diagram to explain this problem?

Unit 2: Unemployment gets worse

2011-12-14T13:36:00.000-08:00

....in all sorts of ways. The data is depressing

http://news.sky.com/home/business/article/16129991 Sky
http://www.bbc.co.uk/news/business-16180144 BBC video
http://www.bbc.co.uk/news/uk-16189158 BBC video
http://www.bbc.co.uk/news/business-16175309 BBC artcle and data

Unit 1: The external cost of excessive alcohol

2011-12-11T13:36:00.000-08:00

The Guardian has some unbelievable stats in this article

http://www.guardian.co.uk/society/2011/dec/09/hospital-admissions-drinking-double?INTCMP=SRCH

a) Why is this an external cost of alcohol consumption?
b) State 3 other external costs of alcohol consumption
c) What actions could the government take to internalise these external costs of alcohol?

Unit 1: Does legislation work to curb alcohol consumption?

2011-12-09T12:39:00.000-08:00

The answer would appear to be "yes" from early evidence in Scotland

http://www.bbc.co.uk/news/health-16097832

Unit 2: How to boost growth

2011-12-09T07:10:00.000-08:00

This BBC aricle contains a mix of remedies

http://www.bbc.co.uk/news/business-15003833

a) Seperate the policies in to supply side and demand side policies
b) To what extent are such policies likely to be successful in boosting the rate of economic growth?

Unit 1: Migrant labour and the PPC

2011-12-08T13:33:00.000-08:00

Qatar has more migrants than Quatari's reports the BBC

http://www.bbc.co.uk/news/business-16052572

a) Using a diagram, explain the effect of this migration on Qatar's production posibility curve

Unit 2: How to increase economic growth

2011-12-08T13:27:00.000-08:00

Thanks to economicshelp for this summary

http://www.economicshelp.org/blog/4493/economics/how-to-increase-economic-growth/

Unit 2: Economic growth in Australia

2011-12-07T12:06:00.000-08:00

....reports the BBC

http://www.bbc.co.uk/news/business-16076812 video
http://www.bbc.co.uk/news/business-16063331 article

...and a cut in interest rates

http://www.bbc.co.uk/news/business-16044504

Unit 1: Negative externalities: Smog in Beijing

2011-12-07T11:52:00.000-08:00

A fantastic clip from the BBC

http://www.bbc.co.uk/news/world-asia-16049592

a) Why is the smog an example of a negative externality?
b) What actions could the government take to reduce the negative externality?
c) To what extent is each policy likely to be successful?

Unit 1: Information failure when shopping

2011-12-07T01:07:00.000-08:00

A nice clip from the BBC

http://news.bbc.co.uk/panorama/hi/front_page/newsid_9655000/9655493.stm

a) What is the information failure consumers are suffering?
b) What is the result in the free market?
c) What actions could the government take to eradicate this information failure for the consumer?

Unit 1: Should smoking in cars be banned?

2011-12-06T11:46:00.000-08:00

Some interesting thoughts here

http://www.confused.com/news-views/blogs/should-smoking-in-cars-be-banned?MediaCode=806&utm_medium=email&utm_campaign=Newsletter&utm_source=Newsletter05Dec

Unit 2 How useful are supply side policies in a recession?

2011-12-05T11:34:00.000-08:00

A nice summary from economicshelp

http://www.economicshelp.org/blog/4401/economics/the-role-of-supply-side-policies-in-a-recession/

Unit 1: The whisky market

2011-12-03T13:20:00.000-08:00

....is growing according to the BBC

http://www.bbc.co.uk/news/uk-scotland-16007905

a) Which of the factors that effect demand are causing the increasing demand for whisky?
b) Is supply elastic or inelastic? Explain your answer
c) Given your answers to a) and b) draw a S&D diagram to show the effect on the whisky market if demand continues to grow

Unit 1 : Alcohol; a demerit good

2011-12-03T13:04:00.000-08:00

A sad story from the BBC

http://www.bbc.co.uk/news/health-15998280

a) What evidence is there in the video of the 2 elements of demerit goods; ie information failure and negative externalities
b) Towhat extent do you believe higher taxes and better information to consumers would reduce alcohol consumption?

Unit 1: Elasticity of supply: Biscuits

2011-12-02T12:48:00.000-08:00

A great video found by tutor2u

http://www.unitedbiscuits.com/video/videoPopup.php?w=756&h=576

a) Would the supply of these biscuits likely be elastic or inelastic? Explain your answer?

Unit 2: European unemployment data

2011-12-01T12:38:00.000-08:00

The latest (Nov 2011) figs from the BBC

http://www.bbc.co.uk/news/business-15961626

Unit 2: Government action to reduce youth Unemployment

2011-11-26T09:00:00.000-08:00

An initiative from the Government (and long overdue it could be argued) as youth unemployment tops a million

http://news.sky.com/home/politics/article/16117378 Sky
http://www.channel4.com/news/clegg-to-announce-1bn-youth-job-scheme Ch4
http://www.bbc.co.uk/news/uk-15885013 BBC video
http://www.bbc.co.uk/news/uk-politics-1587879 BBC article

a) What sort of policy is this by the government?
b) To what extent do you believe these actions will reduce youth unemployment?

Unit 1: The external costs of obesity

2011-11-24T12:25:00.000-08:00

..could be huge (no pun intended) according to BBC Northern Ireland

http://www.bbc.co.uk/news/uk-northern-ireland-15839264

a) Why are these health costs examples of external costs?
b) What actions could the Government take to reduce these external costs and so reduce the market failure?
c) To what extent do you think such policies would be successful in reducing the negative externalities?

Unit 1: Migration and the PPC

2011-11-24T02:06:00.000-08:00

A ring number of people in the UK, the BBC reports

http://www.bbc.co.uk/news/uk-15868793

a) Given this information, what would happen to the UK's PPC?
b) Given that there are 2.6m people unemployed, draw a PPC diagram and show the UK's position with an X

Unit 1: Negative externalities from global warming

2011-11-24T01:59:00.000-08:00

Pitty the Austrian ski industry

http://www.bbc.co.uk/news/world-europe-15868294

a) Why are the green ski slopes an example of a negative externality?
b) Why is the cost of operating snow machines an example of an external cost?

Unit 2: Sources of tax revenue for the government

2011-11-18T12:39:00.000-08:00

Thanks to economicshelp for this data

http://www.economicshelp.org/blog/4001/economics/tax-revenue-sources-in-uk/

Unit 1: Information failure: How much fibre should you eat?

2011-11-17T12:28:00.003-08:00

Lots, according to the BBC

http://www.bbc.co.uk/news/health-15696791

a) How does the food market fail according to this video?
b) If everybody was made to watch this video, would it eliminate the market failure? Explain your answer

Unit 1: Information failure: How much fibre should you eat?

2011-11-17T12:28:00.001-08:00

Unit 2: Policies for reducing unemployment

2011-11-17T12:10:00.000-08:00

Lovely summary from economicshelp

http://www.economicshelp.org/blog/3881/economics/policies-for-reducing-unemployment/

Unit 1: What determines the price of oil?

2011-11-17T12:09:00.000-08:00

A great summary, with data, from economicshelp

http://www.economicshelp.org/blog/3809/oil/factors-affecting-oil-prices-in-short-term-and-long-term/

Unit 2: Youth and general unemployment in the UK and Europe

2011-11-17T12:02:00.001-08:00

Another horrible set of unemployment stats, especially in terms of youth unemployment

http://news.sky.com/home/uk-news/article/16111343 Sky
http://www.bbc.co.uk/news/uk-15760472 BBC
http://www.bbc.co.uk/news/business-1575562BBC
http://blogs.channel4.com/faisal-islam-on-economics/bad-news-grim-jobs-data-worse-news-euro-effect-to-come/15570 Ch4

and the view from Wales

http://www.bbc.co.uk/news/uk-wales-15767242

and this summary from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/testing-times-for-the-uk

a) What are the costs of such high youth unemployment to the UK economy?
b) Using the Europe data halfway down the page, discuss how much of a problem youth unemployment is in the UK

Unit 2: GDP data

2011-11-17T12:00:00.000-08:00

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/gcse-economics/comments/delicious-data-uk-gdp-growth

Unit 2: Inflation falls slightly to 5%

2011-11-17T11:56:00.000-08:00

....according to the BBC

http://www.bbc.co.uk/news/business-15733539

a) Why has the CPI fallen?
b) What has happened to average prices in the past 12 months?

Unit 1: Australia limits cigarette packaging

2011-11-16T12:59:00.000-08:00

..a.ccording to Sky news

http://news.sky.com/home/world-news/article/16107369

and the BBC

http://www.bbc.co.uk/news/world-asia-15673797

a) To what extent do you think this action will reduce the market failure associated with the cigarette market?

Unit 1: Cross elasticity of demand and the Kindle Fire

2011-11-16T12:55:00.000-08:00

Can this be true? Planet money report each kindle fire is sold at a loss!

http://www.npr.org/blogs/money/2011/11/16/142310104/why-amazon-loses-money-on-every-kindle-fire?ft=1&f=93559255

a) Using the concept of cross elasticity of demand, explain why Amazon would want to sell the Kindle Fire at a loss

Unit 1: Market failure from smoking in a car

2011-11-16T01:55:00.000-08:00

A nice video and article from the BBC

http://www.bbc.co.uk/news/uk-northern-ireland-15730304 video
http://www.bbc.co.uk/news/health-15751690 video
http://www.bbc.co.uk/news/health-15744352 article and different video

a) What sort of market failure is occuring?
b) To what extent do you think providing information on the dangers of in car smoking would reduce people doing it and reduce the market failure?
c) To what extent do you think banning in car smoking would reduce people doing it and reduce the market failure

Unit 1: Information failure in the used car industry

2011-11-16T01:49:00.000-08:00

A nice post from tutor2u with a Tim Harford video clip on asymetric information failure

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-asymmetric-information-buying-a-used-car?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:17:29Z

Unit 1: Australia passes a carbon tax

2011-11-08T12:43:00.000-08:00

..reports tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/australia-pass-carbon-tax

a) Discuss how successful this tax is likely to be in reducing carbon emissions

Unit 1: Fireworks displays: A public good?

2011-11-07T13:25:00.000-08:00

A mistake in Oban provides 50 seconds of fun

http://www.bbc.co.uk/news/uk-scotland-15611160

a) To what extent is a firework display a public good?

Unit 2: Costs of unemployment

2011-11-06T12:26:00.000-08:00

A nice clip explaining the problem of hysteresis

http://www.bbc.co.uk/news/uk-scotland-15288210

Unit 2: Australia lowers interest rates

2011-11-05T14:41:00.000-07:00

...according to the BBC

http://www.bbc.co.uk/news/business-15532567

1. Explain what is meant by the term ‘interest rate’. (2)
2. Using an AD/AS diagram, explain how a cut in interest rates is expected to affect the macro-economy. (6)
3. Discuss how effective this cutting of interest rates is likely to be in ‘boosting economic growth’. (18)

Unit 2: What is GDP?

2011-11-05T14:32:00.000-07:00

American, but a good explanation of what GDP is

http://www.slatev.com/video/what-exactly-gdp/

Unit 2: Unemployment tutor2u presentation/data

2011-11-05T14:28:00.000-07:00

Many thanks to tutor2u

http://dl.dropbox.com/u/4368634/Economics/Unemployment%20_Charts_Nov2011.pdf

Unit 2: Videos on Investment

2011-11-05T14:22:00.000-07:00

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-economic-importance-of-investment?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:14:41:47Z

Unit 2: Worsening unemployment

2011-11-05T14:01:00.000-07:00

All the bad news from Ch4, especially the effect on the young via the top video, and further down some EU comparisons

http://www.channel4.com/news/unemployment-hits-17-year-high

Unit 2: Cost push inflation; causes and cures

2011-11-05T13:53:00.000-07:00

A great summary from economicshelp

http://www.economicshelp.org/blog/2006/economics/cost-push-inflation-2/

Unit 2: What problems are there with a recession?

2011-11-04T14:58:00.000-07:00

A nice summary from economicshelp

http://www.economicshelp.org/blog/416/economics/problems-of-recession/

Unit 2: Costs of inflation verses costs of unemployment

2011-11-04T14:56:00.000-07:00

......a nice summary from economics help

http://econ.economicshelp.org/2011/10/inflation-v-unemployment.html

Unit 2: Monetary policy; quantitative easing

2011-11-04T14:54:00.001-07:00

A nice clipfrom the BBC explaining what quantitative easing is

http://www.bbc.co.uk/news/business-15492115

Unit 2: Inflation data

2011-11-04T14:51:00.001-07:00

Nice interactive chart fron the Guardian

http://www.guardian.co.uk/business/interactive/2009/mar/24/rpi-inflation

Unit 2: Unemployment data

2011-10-31T04:13:00.000-07:00

Thanks to tutor2u for these latest updated charts

http://dl.dropbox.com/u/4368634/Economics/Unemployment%20_Charts_Nov2011.pdf

Unit 2: Data on consumption

2011-10-06T01:02:00.000-07:00

Thanks to tutor2u for these charts

http://www.tutor2u.net/blog/index.php/economics/comments/unit-2-macro-consumer-spending-charts-for-the-uk?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:16:49:33Z

and these questions based on some of them

http://www.tutor2u.net/blog/files/AS_Macro_EW_Conusmption.pdf

Unit 1: A fat tax in Denmark

2011-10-03T09:33:00.000-07:00

For a long time, people combatting obesity have suggested a fat tax. The BBC reports Denmark has now led the way in intrducing such a tax

http://www.bbc.co.uk/news/world-europe-15140821

and possibly in the UK

http://uk.health.lifestyle.yahoo.net/uk-government-may-consider-a-fat-tax.htm

a) What is the market failure this tax will combat?
b) Use a diagram to explain how the tax should reduce the market failure
c) Discuss the extent to which this policy is likely to succeeed

Unit 1: A ban on bulk buy booze discounts in Scotland

2011-10-01T13:47:00.001-07:00

So says the BBC

http://www.bbc.co.uk/news/uk-scotland-15135000 video
http://www.bbc.co.uk/news/uk-scotland-15125064 article
http://www.bbc.co.uk/news/uk-scotland-15123533 article

a) To what extent is such a ban likely to reduce the negative externalities associated with excessive alcohol consumption

Unit 1: A charge for plastic bags

2011-10-01T13:34:00.000-07:00

As ever, Wales is ahead of the game!

http://www.bbc.co.uk/news/uk-wales-15129197

and the response of consumers

http://www.bbc.co.uk/news/uk-wales-15137706

a) Why is such a charge on bags needed?
b) To what extent di you think this scheme islikely to decrease the consumption of plastic bags? Include a S&D diagram in your answer

Unit 1: More regulation on cigarette sales

2011-10-01T13:19:00.000-07:00

This time, a ban on selling cigarettes from vending machines

http://www.bbc.co.uk/news/uk-15132529

a) As ever, the question is "Comment on the likely success of this policy in reducing the market failure arising from the cigarette market"

Unit 1: How to reduce deaths from drink driving: More regulation or more information

2011-09-27T12:34:00.000-07:00

Thanks to tutor2u for this post on 2 approaches. The video is quite sobering (and no pun is intended)

http://www.tutor2u.net/blog/index.php/economics/comments/unit-1-micro-drink-driving-and-government-intervention/

a) what is the market failure from drink driving?
b) Why does this occur?
c) Discuss the relative likely success of (1) increasingly tighter regulation and (2) providing more information as in the hard hitting adverts

Unit 2: What's the effect of a cut in interest rates?

2011-09-26T12:27:00.000-07:00

A nice summary from economics help. I particularly like the evaluation section, some of which could be useful in an essay

http://www.economicshelp.org/blog/3417/interest-rates/effect-of-lower-interest-rates/

Unit 2: What is GDP? Revision

2011-09-26T12:12:00.000-07:00

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/study-note-introduction-to-gdp/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:12:00Z

Unit 2: Circular flow of income :Revision

2011-09-26T12:09:00.000-07:00

Thanks to tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/study-note-the-circular-flow-of-income/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:10:04:00Z

Unit 2: The state of the UK economy

2011-09-26T11:59:00.000-07:00

A nice, depressing summary from Anforme

http://www.anforme.co.uk/blog/?p=2336

a) Summarise, in terms of the Governments 4 macroeconomic objectives, the state of the UK economy

Unit 2: The economic cycle in pictures

2011-09-15T01:40:00.000-07:00

Interesting activity from tutor2u

http://www.tutor2u.net/blog/index.php/economics/comments/activity-the-economic-cycle-in-images/?utm_source=MailingList&utm_medium=email&utm_campaign=Economics+Update+100911

Unit 2: What is the effect on the UK of a 50%tax rate?

2011-09-10T13:32:00.000-07:00

The argument about abolishing the 50% rate continues according to the BBC

http://www.bbc.co.uk/news/business-14821741

a) Discuss the effectiveness of a top tax rate of 50% for UK taxpayers earing over £150,000

Unit 1: A policy to overcome information failure in wales?

2011-09-10T11:08:00.000-07:00

Interesting video from the BBC

http://www.bbc.co.uk/news/uk-wales-14826965

a) What is the market failure the policy is meant to reduce?
b) What is the opportunity cost of this policy?
c) To what extent do you believe this policy will be successful

Unit 2: Can you spend your way to full employment?

2011-09-07T10:52:00.001-07:00

A nice post from economicshelp

http://www.economicshelp.org/blog/economics/spending-your-way-to-full-employment/

Unit 1 The factors of production needed to build a ball park

2011-09-07T10:35:00.000-07:00

Thanks to tutor2u for this clip

http://www.youtube.com/watch?feature=player_embedded&v=HQv0WWhoZnI#!

Unit 2: Information failure resolved?

2011-09-07T10:15:00.001-07:00

Interesting posts from Sky news and the BBC explaining how McDonald's is now offering the calorie content of its meals

http://news.sky.com/home/business/article/16062739
http://www.bbc.co.uk/news/health-14784015

a) What is the information failure in the market?
b) From the evidence in the video and your own knowledge, what do you think the likely effect of Mcdonald's stating the calorie content of its meals will be?
c) What other actions could the government take to reduce the market failure asociated with fast food? Do you think these measures are likely to be more or less effective than the calorie information?